CareDx, Inc (NASDAQ:CDNA) Receives Average Recommendation of “Hold” from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have received an average rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $28.80.

CDNA has been the subject of several research reports. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group increased their price target on shares of CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, August 1st. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. Wells Fargo & Company began coverage on CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective on the stock. Finally, BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, August 19th.

CareDx Stock Down 0.4 %

Shares of CareDx stock opened at $29.70 on Friday. CareDx has a twelve month low of $4.80 and a twelve month high of $34.84. The business has a 50-day moving average price of $27.31 and a 200-day moving average price of $17.64. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -8.68 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.37. The business had revenue of $92.27 million for the quarter, compared to the consensus estimate of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. On average, equities analysts expect that CareDx will post -0.84 EPS for the current fiscal year.

Insider Transactions at CareDx

In other news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,284,746.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,340 shares of company stock worth $3,025,415. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

A number of large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in CareDx by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,949 shares of the company’s stock worth $5,327,000 after buying an additional 33,767 shares during the last quarter. Bellevue Group AG increased its holdings in shares of CareDx by 0.4% during the fourth quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock valued at $47,458,000 after acquiring an additional 13,994 shares in the last quarter. Bullseye Asset Management LLC raised its position in shares of CareDx by 2.9% in the 4th quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock valued at $2,098,000 after purchasing an additional 5,000 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in CareDx by 9.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock worth $2,743,000 after purchasing an additional 21,892 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in CareDx by 10,267.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after purchasing an additional 18,481 shares in the last quarter.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.